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Aid
and External Financing in the 1990s
New World Order Series: Volume
9
H.W. Singer;
Neelamber Hatti & Rameshwar Tandon (Eds) |
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While during early 1980s, the LDCs got external financing facilities largely through non-debt creating flows from official sources and long-term capital investment from private sources, since 1985 there has been complete chaos in the international capital markets. These years saw more rescheduling of external debts than the entire amount ever renegotiated.
Recently several major changes in the IMF and World Bank policies were observed; most of the
IMF resources have been highly conditional and the World Bank money for adjustment objectives was with several deep policy conditions. Hence a lasting solution for debt problem should be sought in the reduction of international rates of interest. The indications are that the debt-creating present flow of capital market lending to the
LDCs is not likely to improve. For the LDCs, outlook for the 1990s is very bleak.
This volume brings together recent studies relating to the following elements of aid and external financing in the 1990s:
- Fungibility and Allocation of Aid
- Food Aid and Disincentive Debate
- Aid, Dutch Disease and Two Gap Models
- Sector Lending and Other Radical Proposals
- Negative Financing and Options for Latin America
- External Financing: Some Case Studies
- Global Imbalances and Recent Initiatives
- Emerging Issues for Institutional Coordination.
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Introduction
Acknowledgements
Contributors
PART - A
Fungibility and Allocation of Aid
- Aid in the Development Process --Anne O. Krueger
- The Allocation of Aid among Developing Countries: A Multi-Donor Analysis using a Per Capita Aid Index --Mark McGillivray
- Development Assistance: Trade versus Aid and the Relative Performance of Industrial Countries --Alexander J. Yeats
- Foreign Aid and Domestic Savings in Less Developed Countries: Some Tests for Causality --Paul Bowles
PART - B
Food Aid and Disincentive Debate
- Food Aid: Development Tool or Development Obstacle? ---H.W. Singer
- Food Aid: An Assessment --Christopher Stevens
- Development Assistance in the 1980s: Some Propositions relating to a New Aid Approach and Operational Issues --John P. Lewis
PART - C
Aid, Dutch Disease and Two Gap Models
- International Borrowing in the Presence of a Resource Boom: The Dutch Disease and Debt in Four Oil-Producing Developing Economies --James H. Cassing and Jerome C. Wells
- Aid, the Public Sector and the Market in Less Developed Countries --Paul Mosley, John Hudson and Sara Horrell
- Capital, Foreign Exchange and Growth: The Two Gap and Labour Income Floor Views --J. Waelbroeck
PART - D
Sector Lending and Other Radical Proposals
- The World Bank and the World Poverty --Kimmo Kiljunen
- The Debt Crisis in the Context of Adjustment and Development with a Human Face
--S.Griffith-Jones
- Australia's Payments Deficit, Trade Pattern and its Trade and Aid Policy towards Low Income Asia and Africa (with special reference to South Asia) --K.C. Roy
PART - E
Negative Financing and Options for Latin America
- A Lost Generation? Why Latin American Development Depends on Growth, Surmounting the Reverse Transfer Problem of Debt --Clark W. Reynolds
- Negative External Financing: Trends, Consequences and Options for Latin America --Ricardo
Ffrench-Davis
- Capital Exports and Arrested Development: Notes on the Debt Crisis and the Developing Countries --Norman P. Girvan
- From Adjustment and Restructuring to Development --Osavaldo Sunkel
PART - F
External Financing: Some Case Studies
- Some Determinants of Foreign Aid to India, 1960-85 --Ira N. Gang and Haider Ali Khan
- External Debt: SSA's Emerging Iceberg --Reginald Herbold Green and Stephany Griffith-Jones
- Government Regulations, External Financing and Economic Performance: The Case of Korea --Rainer Schweickert
- Oil Prices and Third World Indebtedness-Is there a Linkage? --Ibrahim F.I. Shihata
- Stabex and Commodity ExPort Compensation Schemes: Prospects for Globalization --Adrian P. Hewitt
PART - G
Global Imbalances and Recent Initiatives
- Debt Problem: What Next? --Dragoslav Avramovic
- The International Monetary System: Present and Future --Dominick Salvatore
- Siphoning-off Resources from the Periphery: The Relevance of Raul Prebisch's Thinking for the Eighties --Kunibert Raffer
PART - H
Emerging Issues for Institutional Coordination
- Multilateral Aid to Developing Countries --H. W.. Singer
- Europe 1992 and the Developing Countries --Louis Emmerij
- Measuring Capital Flight from the Indian Economy --Benu Varman-Schneider
- Growth-oriented Adjustment Lending: A Critical Assessment of IMF/World Bank Approaches --G.K. Helleiner
- World Economy Forecasts and the International Agencies --Sam Cole
Index
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Hans
Singer was born in 1910 in the Rhineland. He first studied
economics and social problems at the University of Bonn
where he was much influenced by his teacher Joseph Schumpeter
and Arthur Spiethoff. Since 1969 he has been a Professorial
Fellow at the Institute of Development Studies and Professor
of Economics at the University of Sussex, now Emeritus.
Among his books are Unemployment and the Unemployed;
Economic Development of Under-developed Countries; Economic
Development of the Brazilian North-East (with others);
The Role of Economist as Official Adviser; International
Development, Growth and Change; Perspectives in Economic
Development, The Strategy of International Development,
Technologies for Basic Needs; Rich and Poor Countries;
and The International Economy and Industrial Development.
Neelamber Hatti is mainly involved in research at the
Department of Economic History, University of Lund,
Sweden. Dr. Hatti has written extensively on Trade,
Aid and Rural Development, and Microdemography. He has
also taught at the University of Copenhagen and has
been a visiting Senior Fellow at the Scandinavian Institute
of Asian Studies. He has recently authored (with Rameshwar
Tandon) the study, Exports and Development: The Indian
Experience.Rameshwar Tandon has been involved in teaching
and research work for the last three decades. Now he
works at the Institute for Social and Economic Change,
Bangalore, India. Among his books are Some Perspectives
on India's Trade Policy: Prebisch-Singer Hypothesis
and Terms of Trade (Peripheral Capitalism in the 1980s);
and Exports and Development: The Indian Experience (with
Neelamber Hatti).
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